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Burying the Obama 'Anti-Business' Myth

Stocks in this article: CSCO GOOG AXP HON BA GE GM

The only one not playing the niceties game was House Republican leader John Boehner, who issued a statement describing the Obama business lunch menu as serving up a "nothingburger," and referred to the White House's olive branches as twigs.

We say the whole "Obama Versus the Business World War" is the biggest "nothingburger" of all, and we'd like to stick a branch, or twig, in the eye of the critics continuing to portray the President as the enemy of economic growth and industry.

Indeed, as business leaders have decried the White House policies that would allegedly cripple corporate profits, we ask:

  • Who was president during the most recent quarter, when the largest corporate profits in U.S. history were recorded?
  • Whose administration oversaw the biggest U.S. IPO of the year, engineering the comeback of left-for-dead GM (GM)?
  • Which president gave the health insurance companies more or less what they wanted in overhauling a flawed health care system?
  • Who oversaw a tax cut package widely lambasted by his own base as being a free lunch for the elite class?
  • And which President picked up right where "pro-business" President Bush left off in propping up the banking system with bailout dollars and creating a revolving door between the Wall Street elite and the federal government's top economic chiefs?
  • Sure, Wall Street honchos are quick to point out that Obama lambasted "fat cat" bonuses last year -- but c'mon, financiers, you're way too smart to not be able to distinguish a toothless populist rant from a President (and an opinion shared by the overwhelming majority of Americans whose "Main Street" is not called "Wall Street") versus actual policy mandates.

    Business leaders also harp on the financial reform package as a sign of Obama's "anti-business" stance. Yes ... how dare that "anti-business" President bail out a broken financial system and then decide not to simply the leave the broken system intact? The nerve!

    The bottom line: the corporate bottom line's worst enemy is hardly President Obama. In fact, he may just be the most "pro-business" Republican president that Republicans never elected.

    -- Written by Eric Rosenbaum from New York.

    >To contact the writer of this article, click here: Eric Rosenbaum.

    >To follow the writer on Twitter, go to Eric Rosenbaum.

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